40 U.S. Billionaires Accept Gates, Buffet Giving Challenge

August 4, 2010

Forty billionaires have now signed on to Bill and Melinda Gates’ and Warren Buffett’s "Giving Pledge," promising to donate a majority of their fortunes to charity. The announcement comes six weeks after the project was originally announced.

The Giving Pledge is an effort to help address society's most pressing problems by inviting the wealthiest American families and individuals to commit to giving more than half of their wealth to philanthropy or charitable causes.

A full list of those taking the pledge and personal pledge letters by many of these supporters outlining their commitment to give is available online at www.givingpledge.org.

"We've really just started, but already we've had a terrific response," said Warren Buffett, pledge co-founder and chairman and CEO of Berkshire Hathaway. "At its core, the Giving Pledge is about asking wealthy families to have important conversations about their wealth and how it will be used. We're delighted that so many people are doing just that - and that so many have decided to not only take this pledge but also to commit to sums far greater than the 50 percent minimum level."

"If you want to do something for your children and show how much you love them, the single best thing - by far - is to support organizations that will create a better world for them and their children," New York Mayor Michael R. Bloomberg said in his pledge letter. "And by giving, we inspire others to give of themselves, whether their money or their time."

For a discussion of the Gates and Buffett "Giving Pledge" project and its potential ramifications for philanthropy and nonprofits, see this recent post on AFP President and CEO Paulette Maehara's blog.